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Mobile Money Interoperability in Ghana Goes up by Over 350% in the First Quarter of 2020
The money transfer across different mobile networks, which is referred to as Mobile Money Interoperability (MMI), has increased by 358% in the first quarter of 2020.
- Categories
- Finance, Telecommunications
- Region
- Sub-Saharan Africa
- Tags
- digital payments, fintech
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It Takes a Bank to Rebuild a City: JPMorgan, Detroit and the Value of Private Sector Solutions to Urban Decay
Many large U.S. cities have fallen victim to extreme urban decay – and nowhere does this ring truer than in Detroit. But according to Mike Brown at LendEDU, the city is experiencing a turnaround, due in part to a five-year, $150 million investment by JPMorgan Chase. He explores why private sector giants should use their financial might to build upon this success.
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Viewpoint: The Impact of the COVID-19 Pandemic on Financial Inclusion
COVID-19 is the force majeure that has swept across continents at lightning speed, leaving in its devastating wake a financial contagion like no other, with the global economy said to have contracted by 12% in Q1 alone and the downturn described as the worst since the Great Depression of the 1930s.
- Categories
- Coronavirus, Finance
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Coronavirus Is Triggering Deep Digital Change in African Fintech
In a bid to curb the spread of the virus, the World Health Organisation has been cautioning against the use of hard currency and encouraging the use of digital payments. This move has prompted African governments and regulators to enforce measures aimed at facilitating more cashless transactions.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech
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Viewpoint: COVID-19 Is a Call to Action for Regulators to Boost Financial Inclusion
Mobile money transfer and global remittance firms such as Chipper Cash and WorldRemit are particularly vital for migrants who rely on these services to send money home for essentials such as school fees, medical costs or groceries. As the services are increasingly available through mobile devices, they are a particularly efficient instrument in the push toward financial inclusion and the achievement of several UN Sustainable Development Goals.
- Categories
- Coronavirus, Finance
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The Informal Economy is Complicating Government Responses to COVID-19: Will the Crisis Push Millions Toward Formality?
As COVID-19 devastates the global economy, many governments have designed support measures to help businesses and workers survive. But as Jill Lagos Shemin and James Dailey point out, this support may be ineffective in lower-income countries, where most small businesses and their employees work in the informal economy, lacking bank accounts and even valid ID. They explore some solutions governments can pursue – and trade-offs they will have to accept.
- Categories
- Coronavirus, Finance
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IFAD Makes Landmark Investment in Impact Fund Helping Rural SMEs
In a continuation of its efforts to help small-scale farmers and micro-, small and medium size rural enterprises in developing countries create jobs and increase incomes, the International Fund for Agricultural Development (IFAD) announced today an investment of US$9 million (€8.4 million) into the Agri-Business Capital (ABC) Fund, a blended capital impact fund.
- Categories
- Agriculture, Finance
- Region
- Sub-Saharan Africa
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Press Release: FINCA Impact Finance Secures $15 million Revolving Loan Facility from Calvert Impact Capital
Additional liquidity will bolster the financial network’s ability to deliver financial services to low-income entrepreneurs.
- Categories
- Finance
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